Ann: Stargroup and DigitalX sign JV to develop Bitcoin ATMs, page-82

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Bitcoin ATMs deal makes Stargroup shares jump in joint venture with DigitalX

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The companies are developing a "two-way ATM where a Bitcoin owner can not only buy Bitcoin but more importantly can cash their bitcoin out". Bloomberg
by Aditya Srivastsav
ATM machine operator Stargroup's shares jumped as much as 43.5 per cent to 3.3 cents on Monday, their highest since April 19.
The stock posted its biggest intraday percent gain since January last year.
The rise came after the company signed a joint venture agreement with DigitalX, a blockchain technology and advisory company, to jointly develop bitcoin ATMs for buying and selling the virtual currency.
About 43.1 million shares changed hands, 49.8 times the 30-day average of 865,172 shares

Shares of DigitalX rose as much as 28.2 per cent.

In an ASX announcement, Todd Zani, Stargroup's CEO and Executive Chairman said: "Stargroup is pleased to partner with DigitalX on this project and leverage its unique ownership of its ATM manufacturer to develop a two-way ATM where a Bitcoin owner can not only buy Bitcoin but more importantly can cash their bitcoin out. This development may also be able to be applied to other cryptocurrencies and be distributed internationally."
Leigh Travers, DigitalX's CEO, said: "With our growing success in Blockchain consultancy services we view this opportunity as a suitable fit to offer ordinary Australians exposure to crypto currency and Blockchain security. The success of this Joint Venture with Stargroup will add long-term revenue channels to our business and additional value to our shareholders.


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